Investment banker John Ngumi has resigned as an independent Non-Executive Director of Kenya Airways (KQ) after four years.
In a notice released by the Board of Directors on Friday, Ngumi said he was satisfied with his contributions to the airline in the four years and gives the opportunity to others to serve the airline.
“My departure is motivated by my belief that now the tough work of stabilizing KQ is starting to bear fruit, it is the right time for others to come in and build on the transformational platform that the Board and Management of KQ have created,”
“I remain a firm believer in KQ’s strategic and economic importance to Kenya, and I am confident that before long, Kenyans will also recognize that KQ is worthy and deserving of the critical and invaluable support it has received, and continues receiving from the Kenya Government,” reads the statement.
The Board has named David Kabeberi as Ngumi’s replacement, but in an interim capacity. Kabeberi has served as an ex-officio member of KQ’s Audit and Risk Committee.
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“The Board of Directors of KQ takes this opportunity to thank Ngumi most sincerely for his unwavering dedication and for his immense and invaluable contributions to KQ throughout his tenure as a Board Member, and wishes him the best for the future.”
Ngumi’s resignation comes five months after quitting Safaricom, where he served as the Board Chairman for just five months.
He has previously worked as the chairman of Kenya Pipeline Company and Konza Technopolis Development Authority.
He also served as director of the Communication Authority of Kenya and has led in other sectors, including manufacturing, aviation, energy, and infrastructure.
In the banking sector, Ngumi started his career at National Westminister Bank, he has worked with several leading global banks, including Stanbic Bank, Citibank, and Barclays.